Page 8 Advertisements Column 5

Bay of Plenty Beacon, Volume 7, Issue 56, 14 March 1944, Page 8

PUBLIC NOTICES STATE FIRE INSURANCE OFFICE AGAIN REDUCES RATES OF INSURANCE TO THEIR POLICY HOLDERS REDUCTIONS ANNOUNCED A new schedule of rates lias been» adopted by the State. Fire Insurance Office and will come into operation in respect to wooden dwellings on March 1. Because of the great amount of. work involved in adjusW ing premiums and the extreme shortage of staff, it will not be practicable, it sis stated, to apply new rates; for other risks until later. "The new rating schedule for wooden dwellings reduces the present three grouping classes to two,, and abandons all loadings for contiguity which have applied in the past," stated the. Minister in chargeof the 1 State Fire Office, the Hon. D. Wilson. "In addition, the present maximum State Fire bonus re-*-bate granted to policy holders of three years' standing has been made fi permanent rating reduction. The effect of the new schedules on rates; will vary and will be the greatest in connection with wooden dwellings situated in groups. There will be no increases." As an indication of the effect of the new system of rating on a wooden dwelling :in Wellington situated in a full group of other dwellings, the Minister said the new rate woukl be 4s 3d. per cent, asagainst the present rate of 6s per cent charged to a State Fire policy holder of three years' standing. Where trade risks formed part of tiles'roup. reductions would be greater. It was not possibe at present to* estimate the average percentage reduction over all, but it would be substantial. "In addition to reductions under the new rating schedule, the StateFire Office will as from March . 1 give to its policy holders on renewal a bonus rebate of 10 per cent on all* wooden risks and 15 per cent oil all brick risks: these rebates to ap- ' ply universally, that, is, to both dwellings and. all other classes of business," added the Minister. The ' State Insurance —Your own' office has reduced rates in Fire Accident and Motor Car Risks. Insure with the State and receive* , the benefits of these reductions.

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